Practice Estimating Economical Useful Life - 3.2 | 15. Equipment Life and Replacement Analysis (Part-1) | Construction Engineering & Management - Vol 1
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3.2 - Estimating Economical Useful Life

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define economic useful life in your own words.

💡 Hint: Consider both cost and profit.

Question 2

Easy

What does downtime cost refer to?

💡 Hint: Think about repairs or maintenance.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does economic useful life refer to?

  • A) Total lifespan of the equipment
  • B) Time period for maximum cost efficiency
  • C) Duration until machine breakdown

💡 Hint: Think about what makes financial sense.

Question 2

True or False? Downtime costs only include the costs of repairs.

  • True
  • False

💡 Hint: Consider all aspects of non-operation.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

You manage a fleet of construction vehicles. One vehicle costs $200,000 and requires about $40,000 in repairs annually. A newer model costs $300,000, with an expected lifespan of 5 years and maintenance costs of $15,000 annually. Analyze the financial implications and decide whether the older vehicle should be replaced.

💡 Hint: Total costs over the expected lifespan must be compared.

Question 2

Assess how inflation could influence the decision to purchase a critical piece of equipment, considering current pricing trends and potential future costs.

💡 Hint: Consider long-term investment metrics.

Challenge and get performance evaluation